UiPath (NYSE:PATH) Trading 3.2% Higher – Here’s Why

UiPath, Inc. (NYSE:PATH) rose 3.2% on Monday . The company traded as high as $19.84 and last traded at $19.2650. Approximately 31,878,472 shares were traded during mid-day trading, an increase of 106% from the average daily volume of 15,446,133 shares. The stock had previously closed at $18.67.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PATH shares. UBS Group reaffirmed a “neutral” rating on shares of UiPath in a report on Thursday. Royal Bank Of Canada raised their target price on shares of UiPath from $14.00 to $16.00 and gave the company a “sector perform” rating in a research report on Thursday. Wall Street Zen downgraded shares of UiPath from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Research cut UiPath from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Truist Financial set a $17.00 price objective on UiPath in a research report on Thursday. One analyst has rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, UiPath presently has an average rating of “Reduce” and a consensus price target of $15.46.

UiPath Trading Up 3.2%

The firm has a market capitalization of $10.23 billion, a P/E ratio of 45.87, a price-to-earnings-growth ratio of 6.93 and a beta of 1.10. The company has a 50-day moving average of $14.93 and a 200-day moving average of $13.08.

UiPath (NYSE:PATH) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. UiPath had a return on equity of 3.83% and a net margin of 14.79%.The firm had revenue of $411.11 million for the quarter, compared to analyst estimates of $392.46 million. During the same quarter in the previous year, the company posted $0.11 EPS. The business’s revenue was up 15.9% on a year-over-year basis. Research analysts predict that UiPath, Inc. will post -0.17 EPS for the current year.

Insider Activity at UiPath

In other news, CFO Ashim Gupta sold 240,874 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $17.28, for a total transaction of $4,162,302.72. Following the completion of the sale, the chief financial officer directly owned 696,117 shares in the company, valued at $12,028,901.76. This represents a 25.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Daniel Dines sold 122,734 shares of UiPath stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $14.89, for a total transaction of $1,827,509.26. Following the transaction, the chief executive officer directly owned 613,670 shares of the company’s stock, valued at $9,137,546.30. This represents a 16.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,319,002 shares of company stock valued at $34,094,875. Company insiders own 23.19% of the company’s stock.

Institutional Trading of UiPath

A number of large investors have recently bought and sold shares of the business. Avantax Advisory Services Inc. bought a new position in shares of UiPath in the 1st quarter worth about $108,000. Cetera Investment Advisers grew its stake in UiPath by 2.3% during the first quarter. Cetera Investment Advisers now owns 74,696 shares of the company’s stock worth $769,000 after purchasing an additional 1,652 shares during the period. Jefferies Financial Group Inc. bought a new stake in UiPath in the first quarter worth approximately $156,000. PNC Financial Services Group Inc. increased its holdings in UiPath by 30.5% in the first quarter. PNC Financial Services Group Inc. now owns 16,590 shares of the company’s stock worth $171,000 after purchasing an additional 3,873 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in UiPath by 3.0% in the first quarter. Vanguard Group Inc. now owns 48,061,096 shares of the company’s stock valued at $495,029,000 after buying an additional 1,396,972 shares during the period. 62.50% of the stock is currently owned by institutional investors and hedge funds.

About UiPath

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.